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August 2025
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Debt Discipline WHAT EVERY COLLEGE STUDENT SHOULD KNOW The holidays are traditionally the most hectic time of year for most of us, but August is a close second. As this month’s newsletter arrives in your mailboxes, many of my clients are busily helping their children pack up and prepare for college. In many cases, this will be the first time their kids have lived independently, either out of state or at least far from home. This moment is a rite of passage for both sides. For parents, it symbolizes their child’s personal growth and significant steps toward true adulthood. For new college students, it represents the true beginning of their journey into lifelong financial planning. How college students handle their money over the next few years could make or break how well they succeed financially for years to come. Unfortunately, not every young person is leaping into university life with all the basics of safe and smart money management in mind. In addition to the possibility of having to pay off hefty student loans after they earn their degrees, these students have massive credit card bills and other debt they could have avoided along the way. Since getting into the red is easier than ever, I’d like to offer a few basic tips and reminders to help new college students — and, frankly, people of any age — stay more mindful of where their money is going. First and foremost, new college students should start this next chapter of their lives with a solid idea of their current financial strengths and weaknesses. If they have a student loan, how much will they be responsible for paying once they graduate? Are they receiving financial help from family members? How much is their monthly food and housing budget? If they intend to drive while at school, is their automobile in good condition? If they’re paying for their auto insurance, do they understand the concept of a deductible and have that amount of money readily accessible if they get into an accident? If they have a credit card, do they know their interest rate? Are they aware of their credit card’s service fees, and do they understand that a line of credit isn’t free money? These items may seem basic, but they’re among the things I’ve seen repeatedly damage college students’ bank accounts. Of course, what college students do away from their daily responsibilities at school also matters. According to the National Center for Education Statistics, 40% of full-time students held down jobs while at school in 2020. What are the best ways for them
to utilize this earned income? Can they put some of it away in a savings account? Do they need to fill in the gaps in any areas already mentioned? Could they survive financially in school if they lost their employment or decided to quit working to focus more attention on their studies? When it comes to income streams, it’s always wise to have a Plan B if your primary source dries up unexpectedly. Finally, here’s a suggestion that many people — college-age or otherwise — often overlook: Take a close look at your entertainment expenses. Those seemingly inexpensive streaming services you pay for monthly or annually can add up quickly. Does anyone really need hundreds of dollars in subscription fees when they watch something on Netflix, Amazon, or Disney+ once a week? You may be surprised by how much money you can spend over a year on these supposed conveniences. And that’s not even factoring in the money spent daily at the neighborhood coffee shop.
I may seem like a fretting father in this article, but it’s my job to help people understand where their money is going and how to save it. College students should face the future with pride and excitement, not drowning in unnecessary debt before their lives truly begin. If I can help guide your college-age child toward a safe financial future, I’m only a phone call away. —Kevin Roberts
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Bob Marley’s Estate: EVERYTHING IS NOT GOING TO BE ALRIGHT
Over the years, numerous lawsuits popped up. There were legal battles between family members, former business managers, and even people who claimed to be Marley’s children. To make matters worse, in the mid-1990s, Rita was accused of trying to forge documents that would have given her control over Bob’s name and likeness rights. That claim led to a prolonged court case and more delays in distributing the estate. An Organized Estate Eventually, the Jamaican courts appointed a court- supervised administrator to handle Marley’s estate — a move meant to avoid further family infighting and keep things above board. The estate was restructured under a holding company, Nine Mile, and later managed by a team of professionals to protect Marley’s image and assets. To this day, the estate remains active and highly valuable. Marley still consistently ranks among the top-earning deceased celebrities, pulling in millions annually from music sales, merchandise, and licensing. Bob Marley’s probate case reminds us that no matter how famous or well- recognized you are, dying without a will can create chaos, especially when significant assets are involved. Legal fees pile up, relationships can fall apart, and it can take years to settle everything. So, the takeaway is to plan ahead. A will (and potentially a trust) can save your loved ones a world of trouble — and ensure your legacy is handled exactly the way you want.
When Bob Marley passed away in 1981 at age 36, the reggae icon left behind a massive musical legacy and a major legal mess. Why? He didn’t leave a will. Despite being one of the most famous musicians on the planet, Marley died intestate (the legal term for dying without a will). At the time of his death, his estate was estimated to be worth around $30 million, and that number has only grown thanks to royalties, licensing deals, and merchandise. NO WILL, BIG PROBLEMS Without a will, Marley’s estate was subject to Jamaican intestacy laws, which meant his wife, Rita Marley, and his 11 recognized children were supposed to share the estate. While this sounds simple, it didn’t work out that way.
HORROR’S LOW-BUDGET GOLDMINE FROM FRIGHT TO FORTUNE
Whether a business sells sandwiches or manufactures missiles, the end goal is the same: to make a profit by keeping expenses as low as possible. In entertainment, no genre has utilized this simple formula to success more than horror films. If you came of age in the ’80s, you likely remember the frequent sequels produced for film franchises like “Friday the 13th” and “A Nightmare on Elm Street.” Well, there’s a simple reason why these series carried on for so many years: By Hollywood standards, they turned a small budget into a mountain of cash. For example, most of the “Friday the 13th” films of the decade were made for less than
on a mere 35-page screenplay, the film follows three film students as they traipse through the woods with camcorders searching for the “Blair Witch,” a notorious small-town murderess who may or may not exist. We won’t spoil the ending here except to say that the film captures moments of genuine terror through little more than shaky camera footage and strong acting. Reports of the film’s official
budget vary, but it is widely believed to have cost $60,000 at most. Incredibly, the movie grossed nearly $300 million — proof that a fresh idea will trump well-funded mundanity any day. A PARANORMAL PAYDAY A decade after “The Blair Witch Project” kickstarted the “found footage” film genre, “Paranormal Activity” bolstered the concept with practical special effects to become another low-investment/high-return juggernaut. Shot over seven days for just $15,000 (with its lead actors reportedly paid a paltry $500
$3 million but often doubled and even tripled that amount in ticket sales. Even if you’re not a horror genre fan, you can understand why movie studios unleashed them on eager audiences so often back then — and why the trend continues today. Here are two jaw-dropping examples of how much money Hollywood can make giving horror fans a good fright. A WITCH’S PATH TO WONDROUS WEALTH On paper, the 1999 film “The Blair Witch Project” never stood a chance of becoming a global phenomenon. Based
each), the 2009 film has earned just under $200 million worldwide — a figure that undoubtedly strikes fear in the hearts of big-time studios that spend tens of millions on box office bombs.
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Big and Beautiful? TAX CUTS ON THE GOVERNMENT TABLE
Inspired by EatingWell.com
Spinach, Feta, and Egg Stuffed Peppers
• 2 large bell peppers, any color • 1/2 tsp salt • 4 large eggs • 2 tbsp reduced-fat milk • 1/4 tsp ground black pepper DIRECTIONS INGREDIENTS
• 1 tbsp extra-virgin olive oil • 1/2 cup chopped onion • 2 cups chopped spinach • 1/3 cup crumbled feta cheese
In politics, nothing — not even your tax bill — is ever set in stone. At the time of this writing, the U.S. Senate is still reviewing (and undoubtedly debating) the One Big Beautiful Bill Act of 2025 (OBBBA), a controversial budget reconciliation bill the House of Representatives passed that could dramatically affect the bottom lines of millions of Americans. Naturally, a bill of this size is often a moving target subject to considerable alterations — and perhaps defeat — as it moves through the legislative process. Although some of the details included in this article may no longer apply to the OBBBA by the time you read this, it is still worthwhile to explore some of the substantial tax changes introduced — especially as they’re likely to return in some form in the future even if they don’t all survive the review and voting process. That said, what doesn’t appear subject to change is the Trump administration’s steadfast endorsement of the OBBBA’s possible impact on U.S. taxes. In early June, the White House made headlines by calling the legislation “the largest tax cut in history” via an official statement. What does that mean? Here are just a few of the critical provisions included in the version of the OBBBA passed by the House in May: • Taxes on tips and overtime would be eliminated. • The lower personal income tax rates established through the 2017 Tax Cuts and Jobs Act would be permanent. • A taxable income deduction of up to $10,000 would apply to car loan interest for vehicles assembled in the U.S. This deduction would be allowed through 2028. • Eligible filers aged 65 or older would be provided an additional $4,000 deduction (with a modified adjusted gross income of up to $75,000/single or $150,000/married filing jointly) for tax years 2025 through 2028. Regardless of where the bill may stand this month, please contact me if you have any questions or concerns about your tax planning for 2025. Change in the tax world may be inevitable, but allowing it to harm you financially due to oversights or disorganization is optional.
1. Preheat oven to 375 F. 2. Halve peppers lengthwise; remove and discard seeds. 3. Place peppers cut-side up in an 8-inch-square microwave- safe dish. Microwave on high 2 1/2–3 minutes until tender; pat dry and sprinkle with salt. 4. In a medium bowl, whisk together eggs, milk, and black pepper. 5. To a medium skillet over medium-high heat, heat oil, then add onion and cook, stirring, for about 2 minutes until softened and beginning to brown. 6. Add spinach and cook, stirring 1–2 minutes more until spinach is wilted. 7. Divide spinach mixture evenly among pepper halves. Sprinkle with feta, and top with egg mixture. 8. Bake 30–35 minutes until filling is set.
SUDOKU
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INSIDE THIS ISSUE 1 Campus Cash, Budget Boundaries 2 Don’t Worry About a Thing (Except Getting a Will) Cheap Chillers Clean Up 3 Views From a Legislative Labyrinth Spinach, Feta, and Egg Stuffed Peppers 4 Post-Work Wealth Wisdom
Golden Years, Golden Gains A Retirement Riches Road Map
Once you’ve reached the age where stepping away from your life’s work is feasible, it is essential to explore ways to make your retirement funds last as long as possible — a goal that involves more than just keeping your bills paid in your golden years. Here are three thoughts to help you move toward a comfortable, sustainable, and secure post-work life. REDEFINE THE FUTURE. There are several ways to build a reliable retirement plan to ensure financial strength. First, consider whether your anticipated fund withdrawals align with your tax strategies. For example, a Roth IRA conversion could present opportunities to reduce your financial obligations if you anticipate reaching a higher income tax bracket later in life. At the same time, charitable giving Factoring in your Social Security benefits is another way to determine your post-retirement financial health, but only if you carefully consider when you begin receiving them. Generally, you can claim Social Security benefits from ages 62–70, and the age you choose to receive them determines the amount. If you decide to begin receiving your could result in similar advantages. BALANCE BENEFITS WITH NEEDS. benefits as soon as you turn 62, they will remain at the lowest amount available indefinitely. Full benefits kick
in once you reach your full retirement age of 67, but delaying them until you’re 70 will add 8% to your annual income. AVOID THE RISKS OF RESTRAINT. Although patience comes with a payoff, you face a few dangers if you delay your Social Security benefits. For example, putting off receiving them could prevent you from having the funds necessary to address any unexpected medical situation. Additionally, waiting until 70 could have a negative financial impact on your significant other, as spousal benefits are capped when your partner reaches full retirement age under certain conditions.
As no two financial paths are the same, we encourage you to consult a financial advisor and/or estate planner to ensure the most comfortable retirement and sustainable legacy possible.
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